A second shareholder suit accusing electric vehicle company Nikola Corp. of not having the technology or manufacturing power it claimed to have was filed Monday in the U.S. District Court for the District of Delaware.
The complaint, filed by three Nikola shareholders, cited press releases and publicly filed documents that they allege oversold Nikola’s top employees’ qualifications and the company’s manufacturing capabilities, overall exaggerating its ability to cut costs on hydrogen fuel. The plaintiffs are asking for a jury trial to determine that Nikola’s directors breached their duties by causing Nikola to misrepresent information.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]